The Supreme Court’s ruling in favor of same-sex marriage marks a “sea change” in how such couples’ financial lives can be lived, a story says.
The story on dailyfinance.com says same-sex couples will see their financial lives dramatically simplified. No married same-sex couples will need to file two sets of tax returns, a joint return to the federal government and two separate filings to their state.
And all married same-sex couples will have clarity about Social Security benefits and state estate taxes when one partner dies.
For states that have had same-sex marriage, such as California, the changes will be minimal. But the article suggests that couples in such states carry travel documents — marriage certificates, power of attorney, health care proxy, when traveling to states that have not had marriage equality, just to make sure no problems occur. Such couples may face resistance in the period of adjustment in those states.
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